DataHighway

DataHighway is a solution made on the blockchain network to trade and manage data. Such data is related to artificial intelligence (AI) and scientific subjects. According to the website, the project incentivizes the members of the project to operate the Internet of Things (IoT) parachain based on Polkadot. The Internet of Things (IoT) refers to the number of physical devices worldwide connected to the internet that are sharing and collecting data. Parachains are custom blockchains made for a specific project integrated with Polkadot.

According to the whitepaper, the DataHighway project aims to make an inter-chain data market that allows users to become data providers and share IoT data with the developers on the network in exchange for native tokens. Further, the project aims to have a Low-Power Wide Area Network (LPWAN) setup, a decentralized roaming hub. LPWAN technology helps to create a wireless sensor network with low cost, low power, and a wide area coverage. Such LPWAN allows data buyers to trade data from IoT devices owned by data buyers by providing supported cryptocurrencies on the network.

The project’s goal is to provide a fair distribution of the native token DHX and a decentralized model for other purposes. The project offers many services to its users. The foremost service provided is its staking feature. Users have the option to stake their cryptocurrency and earn a reward. Users also have an option to become a miner and help the project to grow. The project intends users to participate in the project’s governance via DataHighway’s decentralized autonomous organization (DAO). The DAO program seeks to regulate the project’s fiscal and monetary policy.

The DHX token is a utility and a governance token used for several purposes in the ecosystem. Miners and stakers are incentivized via DHX tokens. The holders of the DHX token can participate in the governance of the project and get rewarded. The data buyers also trade data in exchange for native tokens for data to power their decentralized applications (DApps) built on different blockchains.

The DataHighway project was initiated in November 2020. It merged with Polkadot in February 2021. The total supply of DHX tokens is 100,000,000 DHX.